Integration Platform as a Service Market 2018 Growing Demand from Emerging Technology and Innovation till 2023

The global integration platform as a service market is projected to surge at a CAGR of approximately 22% during the forecast period 2017-2023, asserts Market Research Future (MRFR) in its extensive report. Growing demand for integration platform as a service across various industry verticals strives to propel the growth of the integration platform as a service market. Moreover, increasing traction of cloud computing applications is one major factor responsible for the market growth. Also, the extensive need for efficient processes for developing and managing enterprise applications and increasing deployment of the cloud-based application is another factor boosting the market growth. IPaaS (Integration Platform as a Service Market) also helps business organizations in reducing the operational cost. Business agility, increasing awareness about iPaaS among business enterprises, faster deployment & scalability and growing adoption of SaaS application thrust the market globally positively.

Some of the major trends in global iPaaS market include increasing adoption of internet of things (IoT), growing importance of personal cloud along with evolving big data concept. Progressing need of organizations to streamline business processes and digital transformation are some major opportunities that drive the future growth of the global iPaaS market. Also, the global IPaaS market will potentially show considerable traction in terms of adoption across education and healthcare verticals.

According to Market Research Future Analysis, the Global Integration Platform as a service market is estimated to generate revenue of approximately USD 2 Billion by 2023 growing at a CAGR of 22% during the forecast period 2017-2023.

Market Segmentation

The global integration platform as a service market is segmented on the basis of service type, deployment, organization size and vertical.

Based on the service type, the market is segmented into cloud service orchestration, data transformation, API management, data integration, real-time monitoring & integration, business to business (B2B) & cloud integration, application integration, training & consulting and support & maintenance. In this, business to business (B2B) helps improve brand awareness, increases sales, and provides customer-centric experience as well.

The market is segmented on the basis of deployment, which is public cloud, private cloud, and hybrid cloud. Hybrid cloud is in demand because it provides with lot of opportunities for innovation, risk management, improves connectivity, and cost benefits.

Based on the organization size, the market is segmented into SMEs (small-to-medium enterprise) and large enterprises. The small and medium enterprises (SMEs) and large enterprises operating in this market are rapidly getting inclined towards deploying cloud-based services to store and manage their business-critical data, leading to growth of this segment.

Regional Analysis

The global integration platform as a service market is spread across Asia Pacific, North America, Europe, and Rest of the World.

It has been observed that North America is anticipated to hold the largest share of the market, whereas Asia Pacific is projected to grow at the highest rate during the forecast period. The growth of the market in North America region is attributed to technological advancements along with increased adoption of integration platform as a service application across various industry verticals. Large investments in research & development, early adoption of new & emerging technologies, coupled with the presence of a large number of players in this region also leave a colossal impact on the market.

The key reasons for the high growth rate in Asia-Pacific are increased spending on IT infrastructure, rising cloud-based applications, and also growing demand for automation of processes. Apart from these factors, growing BYOD (Bring your own device) trend, rising awareness about iPaaS among enterprises along with growing focus towards reducing the ownership cost are other factors responsible for the humungous growth observed in this region. Moreover, growing focus of the companies towards data security and data prevention coupled with growing government support in various countries in Asia-Pacific drive the iPaaS market and will continue to do so during the forecast period.